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12/05/2018

Federal Reserve Payments Study shows increased payments fraud

Federal Reserve

On October 16, 2018, the Board of Governors of the Federal Reserve System released the latest Federal Reserve Payments Study fraud report (Off-site), which details the cost and number of fraudulent payments in the U.S. The Federal Reserve collected the fraud data using surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. The types of fraudulent payments covered in the study are those made by an unauthorized third party.